Consumer surplus is

A. a buyer's willingness to pay for a good plus the price of the good.

B. the amount a buyer is willing to pay for a good minus the cost of producing the good.

C. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.

D. the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.

Expert Solution

Consumer surplus in simple terms can be said as the difference amount a buyer is willing to pay minus actual amount pays by him

It only happens when consumer pays more than the market price

In demand and supply curve it is represented by the upper triangular area where demand and supply intersects

Rahul Sunny answered 2 years ago

Consumer surplus is

Consumer surplus is a. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. b. the amount a buyer is willing to pay for a good minus the cost of producing the good. c. the amount by which the quantity supplied of a good exceeds the quantity demanded of the good. d. a buyer's willingness to pay for a good plus the price of the good. b. c. d.

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Consumer surplus is

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Consumer surplus is

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